Endowments, Charitable Foundations Focused on Rebuilding Following Recession

Total endowment assets fell 24% in 2008 to $768 billion, from $1 trillion the prior year. Since 2008, assets appear to have rebounded only slightly.

"The recession has severely impacted endowments and charitable foundations, erasing a considerable portion of their assets and putting pressure on their ability to fulfill their missions. Some have had to reduce scholarships, while others have had to cut back grants. With traditional sources of financial support impacted as well, these organizations must focus on supplementing their fundraising with new strategies designed first to generate growth and additionally to ensure they have the liquidity to meet their spending needs," said Gerald O'Connor, a Director at Spectrem Group.